Prudential Financial Inc. Increases Stake in Synaptics Incorporated (NASDAQ:SYNA)

Prudential Financial Inc. increased its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 51.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 257,817 shares of the software maker’s stock after purchasing an additional 87,746 shares during the quarter. Prudential Financial Inc. owned 0.64% of Synaptics worth $19,677,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SYNA. Barclays PLC lifted its stake in shares of Synaptics by 189.7% in the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after acquiring an additional 53,252 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Synaptics by 111.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock worth $6,189,000 after purchasing an additional 42,101 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Synaptics by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,583 shares of the software maker’s stock valued at $35,991,000 after purchasing an additional 23,702 shares during the last quarter. PDT Partners LLC purchased a new stake in shares of Synaptics during the third quarter valued at approximately $592,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Synaptics by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker’s stock worth $7,025,000 after purchasing an additional 333 shares during the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Stock Down 1.4 %

NASDAQ:SYNA opened at $64.35 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The firm has a market cap of $2.52 billion, a P/E ratio of 15.21 and a beta of 1.55. Synaptics Incorporated has a fifty-two week low of $60.75 and a fifty-two week high of $99.99. The firm has a 50-day simple moving average of $71.99 and a two-hundred day simple moving average of $74.56.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Mizuho dropped their price target on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday. Rosenblatt Securities reissued a “buy” rating and issued a $105.00 target price on shares of Synaptics in a research note on Thursday, February 27th. Susquehanna boosted their price target on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a report on Wednesday, January 22nd. Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Synaptics in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Synaptics presently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Insider Activity

In other Synaptics news, insider Ken Rizvi purchased 3,600 shares of the stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $69.15 per share, with a total value of $248,940.00. Following the completion of the acquisition, the insider now directly owns 27,630 shares in the company, valued at $1,910,614.50. This trade represents a 14.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

About Synaptics

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.